"Global electric vehicle sales growth is mainly driven by China." Recently, in the report "2022 Global Electric Vehicle Outlook" (hereinafter referred to as the "Outlook") released by the International Energy Agency, China's leading role in the global electric vehicle field was fully affirmed and highly praised.
China accounts for most of the incremental
"Outlook" proposes that the growth of electric vehicle sales in 2021 is mainly driven by China and accounts for half of the incremental . China's electric vehicle sales reached 3.3 million in 2021, exceeding the global sales in 2020. In the first quarter of 2022, China's electric vehicle sales more than doubled year-on-year, accounting for the majority of global growth.
The report says that due to lower development and manufacturing costs, China's electric vehicles are usually lower, with an average price of only 10% higher than traditional fuel vehicles. In contrast, the average price of electric vehicles in major markets outside China is 45%-50% higher than that of fuel vehicles. This will help China narrow the price gap between electric vehicles and traditional fuel vehicles and drive market consumption. Compared with the situation in China, there is still a gap in sales of electric vehicles in other emerging economies and developing countries, and some market consumers still find it difficult to accept the reality that there are fewer electric vehicle models and higher prices. The
report believes that due to government support, electric trucks have only been widely used in China. In 2021, although several countries are developing electric trucks, the cumulative total of only more than 170 electric trucks used outside China. In China, the sales of pure electric trucks alone reached 45,315 in 2021. The Outlook shows that China's charging infrastructure construction is also faster than most other regions in the world.
has the widest product portfolio
"Outlook" data shows that in 2021, there will be 450 electric vehicle models on sale worldwide, of which nearly 300 are available in China, with the largest number of models and a wide coverage. In addition, there are 184 types in Europe and nearly 65 types in the United States.
In 2021, in the world's major electric vehicle markets, including the Chinese market, about half of the electric vehicle models are SUVs, far ahead of small cars that account for 10% and mid-size cars that account for 23%. From a global market perspective, small electric vehicles have the highest sales volume in China, accounting for 13% of the models on sale; this proportion is 2% in the United States, and Wuling Hongguang MiniEV is the best-selling small electric vehicle in the Chinese market. Compared with 2020, there are more than 10 small and medium-sized electric vehicles in the Chinese market, and the models have increased by 13% year-on-year, while there are 22 new models for large electric vehicles and SUV models, which are also increased by 13% year-on-year.
In terms of electric vehicle purchase and consumption support, in 2021, China's consumer spending almost tripled year-on-year, reaching about US$90 billion (approximately RMB 647.5 billion). However, the government subsidy for each electric vehicle fell from about RMB 36,000 to RMB 27,000, showing a gradual decline since 2016, reflecting the decline in subsidies and the increase in sales. In terms of electric vehicles, in 2021, the average selling price of pure electric vehicles in the Chinese market was RMB 194,000, a year-on-year decrease of 6%; while the average selling price of plug-in hybrid models was RMB 288,000, a year-on-year decrease of 2%. During the same period, the average selling price of pure electric vehicles in Europe was about RMB 345,000, higher than that of China and the United States, but the average selling price of plug-in hybrid models in Europe exceeded RMB 417,000, the highest price in the world.
market size will continue to expand
In recent years, despite being challenged by the global COVID-19 epidemic, shortage of automobile chips and supply chain risks, the electric vehicle market, especially the Chinese electric vehicle market, has shown a thriving trend.
"Outlook" points out that in 2021, the net growth in global automobile sales came from electric vehicles, with China's sales the highest, tripling year-on-year. Moreover, China and Europe account for more than 85% of global electric vehicle sales, while China, Europe and the United States account for more than 95%.
As of the end of 2021, China's electric vehicle ownership remained the largest in the world, reaching 7.8 million, more than double the stock in 2019 before the COVID-19 pandemic.In 2021, China's pure electric vehicles sold 2.7 million, accounting for 82% of China's total new energy vehicle sales; at the same time, accounting for 16% of the total domestic automobile sales, up from 5% in 2020, especially the monthly sales in December 2021 accounted for 20%, reflecting that the electric vehicle market has recovered faster than traditional fuel vehicles.
The report stated that China has clearly set the development goals of the electric vehicle industry in the 14th Five-Year Plan (2021-2025). Among them, it not only emphasizes that the development of electric vehicles is one of the important areas to accelerate energy conservation and carbon reduction, but also continues the previous policy support for electric vehicles, and plans to reach an average annual market share of electric vehicle sales by 2025. It is worth noting that after the outbreak of the new crown epidemic, China extended the subsidy for electric vehicles, , to the end of 2022, and recently announced another one year. At the same time, some places in China have introduced preferential measures such as electric vehicle subsidies, tax exemptions, , fiscal rewards, and purchase and license plate exemptions. Although the subsidies are reduced, they have not affected consumers' enthusiasm for buying cars. China's electric vehicle production and sales still show continued growth, indicating that China's electric vehicle market is maturing. Moreover, "Outlook" believes that the size of China's electric vehicle market will continue to expand.
The achievements made in the development of electric vehicles and new energy vehicles in China are the result of accumulation over the years. "The 10 years since the 18th National Congress of the Communist Party of China have been the 10 years since the continuous emergence of disruptive innovation in China's automobile industry and the realization of industrial reconstruction. It is also the 10 years when China's automobile industry relies on technological innovation to lead the development of the automobile industry into the fast lane." Fu Yuwu, honorary chairman of the China Automobile Engineering Society, said in an interview with a reporter from China Automobile News that in May 2014, General Secretary Xi Jinping pointed out during his inspection of SAIC Group that the development of new energy vehicles is the only way for my country to move from a major automobile country to a strong automobile country. General Secretary Xi Jinping’s statement is very accurate and forward-looking. At that time, the domestic industrial chain did not reach a unified understanding of new energy vehicles. It is precisely because of General Secretary Xi Jinping’s important instructions that my country’s new energy vehicle industry has made a forward-looking strategic layout. As a result, driven by the huge market demand for new energy vehicles in China, the transformation of technology structure helps the industry to overtake, and China's new energy vehicle industry has a bright future and is charming.
text: Zhao Jianguo Editor/Layout: Liu Xiaoye
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